Today, Apixio was featured in a Forbes article for its role in the transition to ICD-10. Author Robert J. Szczerba discusses anxiety in the healthcare world over ICD-10, writing:
“The ‘new’ ICD-10 codes have been in use in much of the developed world for years, however, unlike those countries, the U.S. isn’t paying providers to implement the updated coding system. That job is left to doctors, hospitals and others. It’s another unfunded healthcare mandate. But once fully implemented, the new ICD-10 system can improve the quality of patient care and outcomes; data collection, retrieval and analysis; and productivity and profits.”
He quotes Apixio’s Dr. Darren Schulte:
“Patient medical records are messy, with unstructured, hard-to-find data,” Schulte said. “One doctor might report ‘rapid heartbeat’ in a patient’s chart, while another might say ‘palpitations.’ ICD codes offer a common language, a precise lingua franca. Data-mining technology – which among other things structures data, including doctor notes, into usable codes – helps sort through records more quickly. With relevant data at a doctor’s fingertips, there are no delays in decision making, which helps optimize care for the patient.”
Schulte explained that there are additional financial benefits to data mining healthcare records. “In a recent program we conducted with a major health plan, that insurer was able to review medical records three times faster with the same degree of accuracy and identify missed or incorrect codes that could impact billing and care gaps,” he said. “This plan also saw a double return on investment from the technology.”
Read the full article here.